Why AI IS All It's Cracked Up to Be - Insurance Thought Leadership

Some say it's too early to evaluate the long-term impact of AI, but it's already fundamentally changing the way auto insurers do business. A lot of people are talking about the promise of artificial intelligence (AI), and some say it's too early to evaluate its long-term impact. I believe we need to evaluate AI's value now, because it's already beginning to fundamentally change the way auto insurers do business. A sweeping statement, perhaps, but there's a lead-up to this discussion that is creating the perfect storm for P&C insurers. First, insurer performance is challenging, and most every insurer I speak with is racing to identify ways to reduce expenses while continuing to offer desirable products to savvy consumers -- consumers who expect insurance to be delivered and serviced just as seamlessly as their interactions with their favorite online retailer.